Air Arabia Abu Dhabi starts its seasonal flights to Tbilisi

Air Arabia Abu Dhabi has announced the start of its seasonal flights to Tbilisi, the capital of Georgia, starting from 16th June 2022. Abu Dhabi travellers will now be able to fly directly to Tbilisi International Airport with three weekly flights. Air Arabia Abu Dhabi is currently serving 23 routes since the launch of the […]

Dubai’s Shuaa Capital Q1 net profit falls due to asset write-down

Dubai-based investment bank Shuaa Capital has posted a drop in Q1 2022 net profit after writing down intangible assets worth 31 million dirhams ($8.4 million). Attributable net profit for the period fell to 5.6 million dirhams, compared to 24.9 million posted in the year-ago period last year, the company said in a statement on Thursday […]

RAK Ceramics posts solid Q1 results, revenue surges to $231mln

RAK Ceramics, one of the world’s largest ceramics brands based in Ras Al Khaimah, has reported a total revenue of AED783.1 million ($213 million, up 8.3% over the same period last year despite the ongoing economic challenges weighing in namely on input prices, energy costs and supply chain. Announcing its financial results for the first […]

Abu Dhabi bourse announces its first green bond listing

The Abu Dhabi Securities Exchange (ADX) announced on Thursday the listing of its first green bond, which is expected to contribute to the UAE’s efforts towards a net-zero future in 2050. The $700 million fixed-rate amortising senior secured green bonds were issued by solar energy firm Sweihan PV Power Company (SPPC), which operates Noor Abu […]

Ministry of Defence amends national service term: UAE

The national service term for male recruits – holding a high school diploma or its equivalent and above – has been shortened to 11-month, and for those who didn’t finish their high school, the term will be three years, a Ministry of Defence statement said on Thursday. Meanwhile, the statement added that the national service […]